THOMAS KING CARROLL, ESQ. GOVERNOR.
1829.
politic, by the name, style and title of the Trustees
of the
Abingdon Academy, and by the same name shall have perpetual
succession, and shall be able to sue and be sued, plead
and be impleaded, in any court of law or equity in this state,
and to make and have a common seal, and the same to break,
alter or renew, at their pleasure, and also to ordain and establish
such by-laws and ordinances, as a majority of them shall
deem proper, for regulating the concerns of said Academy,
and for promoting literature within the same, not being repugnant
to the laws of this state.
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CHAP. 37.
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Sec. 2. And be it enacted,
That the aforesaid Trustees and
their successors, by the same name, shall be able and capable
in law to purchase, have and enjoy, to them and their successors
in fee, or any less estate or estates, any lands, tenements,
annuities, pensions, or other hereditaments within this state, by
the gift, grant, bargain, sale, alienation, enfeoffment, release or
confirmation of any person or persons, bodies corporate or
politic, capable to make the same, and such lands, tenements,
rents, annuities, pensions, or other hereditaments, or any less
estates, rights or interest, of or in the same, at their pleasure,
to grant, alien, lease, sell and transfer, in such manner and
form, as they shall think meet and convenient, for the furtherance
of the objects of the said society; Provided nevertheless,
That the said body corporate and politic, or association, shall
not at any time, in their corporate capacity, hold or possess property,
real, personal or mixed, exceeding in value, the sum of
twenty thousand dollars.
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To hold and transfer
property.
Proviso.
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Sec. 3. And be it enacted,
That the next election for fifteen
Trustees, shall be held on the third Monday in December,
eighteen hundred and thirty, and on the third Monday of every
succeeding December, at the Academy; which said election
shall be by ballot, and conducted as follows, to wit: Every
subscriber to said institution shall be allowed one vote for
every ten dollars by him or her subscribed and paid, and the
fifteen persons having a majority of votes, shall be declared
Trustees for the ensuing year; Provided, That no person but
a subscriber shall be a Trustee.
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Election of trustees.
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Sec. 4. And be it enacted,
That for the purpose of ascertaining
who are entitled to vote for Trustees of said Institution,
the Trustees thereof shall record in a book, for the purpose,
the names of all persons who have subscribed thereto, and the
amount subscribed by each of them, and which said right to
vote may be assigned or transferred by a simple transfer or
assignment, in writing, under the hand of the party, attested
by one witness or more.
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Record—Transfer
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Sec. 5. And be it enacted,
That in case of vacancy or ceasing
to be a subscriber or stockholder, the remaining Trustees
shall, as soon thereafter as to them shall seem proper, proceed
to fill up said vacancy from among the persons who shall, at
such time, be deemed subscribers or stockholders to said
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Vacancies
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